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dc.titleSovereign Debt Restructuring: The Need for a New Approach
dc.contributor.authorGelpern, Anna
dc.contributor.authorPowell, Andrew
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageLatin America and the Caribbean
dc.date.available2023-07-10T00:07:00
dc.date.issue2023-07-10T00:07:00
dc.description.abstractHigh debt levels after the pandemic raised concerns about a wave of sovereign defaults. A focus has been on low-income countries, but several middle-income nations also face high debt burdens and recent restructurings in Latin America and the Caribbean revealed both unresolved problems and new concerns. In this paper, we document how LAC has been at the center of restructuring innovations and discuss the predicaments of countries with increasingly diverse creditors and instruments. We argue for a regional hub and spoke institutional arrangement to complement existing global initiatives to harness regional knowledge and to speed progress to improve restructuring processes.
dc.format.extent37
dc.identifier.doihttp://dx.doi.org/10.18235/0004993
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Sovereign-Debt-Restructuring-The-Need-for-a-New-Approach.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectDebt Restructuring
dc.subjectOrganization Realignment
dc.subjectFinancial Bond
dc.subjectSovereign Default
dc.subjectIncome Distribution
dc.subjectCredit Constraint
dc.subjectFinance
dc.subject.jelcodeF34 - International Lending and Debt Problems
dc.subject.jelcodeH63 - Debt • Debt Management • Sovereign Debt
dc.subject.jelcodeK19 - Basic Areas of Law: Other
dc.subject.jelcodeK41 - Litigation Process
dc.subject.jelcodeN16 - Latin America • Caribbean
dc.subject.jelcodeO19 - International Linkages to Development • Role of International Organizations
dc.typeDiscussion Papers
idb.identifier.pubnumberIDB-DP-01022
idb.operationRG-K1089
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